100 Percent Car Financing Options in the UAE

Changes in Car Financing Regulations

Things were easier before May 1, 2011, when individuals could obtain a 100 percent loan for financing a car. However, it is still possible to avoid the 20 percent down payment mandated by the Central Bank.

Available Financing Solutions

Al-Futtaim Group's Financing Options

Al-Futtaim Group is one of the companies that provide this service. Steve Faulkner, managing director at Al-Futtaim Finance, explained:

"This solution enables customers to pay off the 20 percent down payment via instalments. This is a regulated solution and meets all elements of the Central Bank’s regulations introduced almost two years back."

Arabian Automobiles Co.'s 100 Percent Financing Plan

Arabian Automobiles Co. is another dealership that offers a 100 percent financing plan. A spokesperson for the Nissan dealership stated:

"This finance product delivers exactly what its name implies and incorporates benefits that make us confident it will continue to be in demand."

Future Outlook

It remains to be seen whether other dealerships will follow suit. The banks will be on guard to avoid providing 100% financing to those who cannot repay.

As reported by Gulf News.